In the end, all these would only lead to a considerable waste of money. Building a list on your own, on the other hand, is advantageous because you can decide which part of the consumer population you are going to target as subscribers. Aside from this, you will get to monitor your emails in the sense that you can track who received them, who opened them, who replied to them, etc.
You can also split up your list and section the members email list into those who want to receive particular emails and those who prefer not to. More than anything else, the advantage of building an email list on your own is that the members, being from the target market in your niche, are surely interested in and will want to read, your emails.